Biopsy forms the first step in cancer diagnosis and subsequent treatment. The huge potential of the market for biopsy devices could be substantiated by its global market value of USD 1,347 million in 2011 and an expected CAGR of 6.6% from 2012 – 2018. North America is the leading regional market; however, with a remarkable growth rate, the Asian region is expected to record maximum growth due to the favourable demographic and economic conditions. C R Bard Inc. and Devicor Medical Products lead the biopsy devices market, closely followed by CareFusion Corporation and Hologic Inc.
The major product categories in this market include needle-based guns, needles, forceps, guidance systems and others. Needle-based biopsy guns form the fastest growing segment in this market. The market is largely driven by change in consumer preferences, such as shifting from reusable devices to disposable devices.
Growth of this market is directly proportional to the rate of cancer, which is growing rapidly, thus expanding the patient (consumer) base for biopsy devices. Majority of the cancer deaths globally can be prevented with early diagnosis and biopsy, enabling formulation of a proper treatment plan. Rising awareness and growing aging population are other major factors responsible for growth of this market globally.
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In terms of product type, the report segments the biopsy devices market into needle-based biopsy guns, biopsy needles, biopsy guidance systems, biopsy forceps, and others. Needle-based biopsy guns are further segmented into core needle biopsy (CNB) devices, vacuum-assisted biopsy (VAB) devices, and fine needle aspiration biopsy (FNAB) devices. Biopsy needles are further segmented into reusable and disposable biopsy needles. Biopsy forceps are further segmented into hot biopsy forceps and cold (general) biopsy forceps. Biopsy guidance systems are further segmented into robotic systems and manual systems. The segment of others is further segmented into biopsy punches, biopsy curettes, and biopsy brushes.
Amongst the product types, the segment of needle-based biopsy guns is the most swiftly developing segment of the market for biopsy devices and is predicted to exhibit a CAGR of 8.0% in the forecast horizon. This segment is poised to maintain its superiority owing to the increasing demand for disposable devices in place of reusable devices. Amongst the segment of needle-based biopsy guns, vacuum assisted biopsy devices led the market in terms of demand in 2012.
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